2013 San Diego FHA Loan Limits Remain The Same

San Diego FHA Loan Limits
2013 San Diego County FHA Loan Limits

The 2013 San Diego County FHA loan limits will remain the same as 2012.

The maximum loan limit will stay at $697,500 for San Diego FHA loans.

FHA loans with loan amounts below $417,000 in San Diego are considered “conforming” and will have slightly lower rates and less stringent guidelines.

FHA Loans in San Diego that exceed $417,000 to the maximum of $697,500 are classified as “jumbo” or “High Balance”. San Diego High Balance FHA Loans will have slightly more restrictive guidelines and rates that are about .25% higher than the conforming loan amounts.

High Balance FHA loans remain one of the few options for San Diego Mortgage Brokers to get loan amounts in the $600,000 range without going with a San Diego Jumbo Loan or a VA Loan.

The FHA loan program is a great low down payment loan option in San Diego and is used many times by first time home buyers.  It offers great flexibility, low rates, and an opportunity to buy a house with as little as a 3.5% down payment.

Benefits of San Diego FHA Loans

There are many other benefits to the San Diego FHA loan for borrowers.

The 3.5% down payment on a purchase can be gifted to the buyer by relatives. This allows San Diego First Time Home Buyers or others who have not been able to save in today’s current economy to buy a home without having to accumulate the down payment on their own.

FHA loans in San Diego allow non-occupying co-borrowers as well.  This is another great way for San Diego First Time Homebuyers to get into the housing market because parents can help them qualify for the loan.

San Diego FHA loans still allows the seller to pay up to 6% of the purchase price to cover the buyer’s closing costs.

The up-front mortgage insurance premium is currently 1.75% for FHA loans, but there have been discussions that this could increase to 2.0% sometime in 2013.

If you are looking to use an FHA loan to purchase a home, you may want to buy before this increase is implemented.

Please feel free to contact me, a Mortgage Broker and FHA expert, if you would like to get a more information.  For a free quote please fill out the FREE rate quote form at the top of the side bar.  For other California counties please see the chart below.


2013   Loan Amount

Alpine $547,500
El Dorado, Placer, Sacramento $580,000
Mono $529,000
Riverside / San Bernardino $500,000
San Diego $697,500
San Luis Obispo $687,500
Sonoma $662,500
Alameda, Contra Costa, Los   Angeles, Marin, Santa Barbara, Santa Clara, Santa Cruz, Orange, San   Francisco, San Benito, San Mateo, Napa, Monterey $729,750
A California County not   listed, please see https://entp.hud.gov/idapp/html/hicost1.cfm

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